Rogers Communications Inc. (NYSE:RCI) Shares Sold by Value Partners Investments Inc.

Value Partners Investments Inc. lessened its stake in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 90.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,909 shares of the Wireless communications provider's stock after selling 1,551,712 shares during the quarter. Rogers Communications accounts for approximately 2.9% of Value Partners Investments Inc.'s holdings, making the stock its 10th biggest position. Value Partners Investments Inc.'s holdings in Rogers Communications were worth $5,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in shares of Rogers Communications by 123.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,727,400 shares of the Wireless communications provider's stock worth $206,565,000 after purchasing an additional 3,717,487 shares during the period. FIL Ltd increased its position in Rogers Communications by 7.2% during the fourth quarter. FIL Ltd now owns 33,450,577 shares of the Wireless communications provider's stock valued at $1,028,336,000 after acquiring an additional 2,244,240 shares during the last quarter. Bank of Nova Scotia boosted its position in Rogers Communications by 20.6% in the 4th quarter. Bank of Nova Scotia now owns 7,736,202 shares of the Wireless communications provider's stock valued at $237,784,000 after buying an additional 1,320,200 shares during the period. Letko Brosseau & Associates Inc. raised its holdings in shares of Rogers Communications by 23.5% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 5,210,380 shares of the Wireless communications provider's stock valued at $160,094,000 after acquiring an additional 992,780 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Rogers Communications by 5,526.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 591,944 shares of the Wireless communications provider's stock valued at $18,177,000 after acquiring an additional 581,424 shares during the period. Institutional investors own 45.49% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RCI shares. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research report on Tuesday, April 1st. Canaccord Genuity Group raised Rogers Communications from a "hold" rating to a "buy" rating in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $67.00.

Rogers Communications Trading Up 1.4%

Shares of RCI stock traded up $0.38 during trading on Friday, hitting $26.95. 270,223 shares of the stock traded hands, compared to its average volume of 1,011,556. The firm has a market capitalization of $14.45 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.43 and a beta of 0.73. The company has a debt-to-equity ratio of 3.67, a current ratio of 0.66 and a quick ratio of 0.61. Rogers Communications Inc. has a 52-week low of $23.18 and a 52-week high of $41.84. The firm's fifty day moving average price is $25.59 and its 200-day moving average price is $28.77.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Wednesday, April 23rd. The Wireless communications provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $4.96 billion. Rogers Communications had a net margin of 8.40% and a return on equity of 25.19%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. As a group, research analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current fiscal year.

Rogers Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 9th will be paid a dividend of $0.3611 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Rogers Communications's previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 5.36%. Rogers Communications's payout ratio is currently 59.66%.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.